The purpose of the fund is to provide retirement annuities and disability benefits for the employees of the City who became aged or otherwise incapacitated and widows’ annuities and other benefits to the dependents of such employees to the end that the employees have accumulated reserves for themselves and their dependents to meet, without prejudice or hardship, the hazards of old age, disability, death and termination of service, thereby encouraging qualified personnel to enter and remain in the service of the City.
(1995 Code, § 2.88.050)